TD Securities Lowers Tourmaline Oil (TSE:TOU) Price Target to C$75.00

Tourmaline Oil (TSE:TOU) had its price target reduced by TD Securities from C$77.00 to C$75.00 in a report published on Wednesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Desjardins raised their price target on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. Scotiabank lifted their target price on Tourmaline Oil from C$90.00 to C$93.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Canaccord Genuity Group lowered their price target on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday. Finally, National Bankshares set a C$72.50 price target on shares of Tourmaline Oil and gave the company a “buy” rating in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$77.86.

Tourmaline Oil Trading Up 1.3 %

TOU stock opened at C$64.81 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. The company has a market cap of C$24.06 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.72 and a beta of 1.30. The business has a fifty day simple moving average of C$61.75 and a 200-day simple moving average of C$63.14. Tourmaline Oil has a 52 week low of C$53.45 and a 52 week high of C$74.21.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.72 EPS for the quarter, missing the consensus estimate of C$1.09 by C($0.37). The firm had revenue of C$1.31 billion for the quarter, compared to analyst estimates of C$1.37 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. On average, equities research analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Cuts Dividend

The firm also recently announced a None dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 2.26%. Tourmaline Oil’s payout ratio is currently 33.18%.

Insider Activity

In other Tourmaline Oil news, Director Jill Terilee Angevine acquired 1,300 shares of Tourmaline Oil stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of C$61.29 per share, with a total value of C$79,677.00. In other Tourmaline Oil news, Senior Officer William Scott Kirker sold 66,000 shares of Tourmaline Oil stock in a transaction on Friday, October 4th. The shares were sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. Also, Director Jill Terilee Angevine purchased 1,300 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. Over the last quarter, insiders have acquired 36,800 shares of company stock worth $2,233,566. 5.13% of the stock is owned by corporate insiders.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.